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RC System

Realtor Instructions
Realtors must have completed Training & passed a test to represent an RC licensed
Wholesaler. (WS)
The WS will use a Trust to purchase the property fbo the Home Buyer. Negotiate the best
possible deal. Dont offer full asking price just to take the path of least resistance unless
there is a real risk of losing the deal. (Ask Home Buyers if they want you to negotiate for
Seller to contribute toward Buyers closing costs.)
Prepare the offer on the most recent TREC 1-4 Family Residential Contract per instructions
below.
1. A Trust which is specified by the WS.

3. A. 15% or 20% down 3. B. Third Party Financing Addendum


5. Earnest Money - $1,000 (Minimize)

85% or 80%

Exodus Title (Lisa Martin) 5909 W. Loop South #490 Bellaire, TX 77401 | 713-375-2900 lisa@warrenkinglaw.com

6.

A. Sellers Expense (If Seller wants to force Buyer to use their Title Co. explain that RESPA Rules

and Regulations can result in a Seller being fined and explain that using Exodus Title is a
requirement.(Buyer will split the title policy cost only if necessary. Last resort Buyer will pay the
entire title policy.)

C. (1) 21 days Sellers expense (Make sure WS is given a copy of the Survey prior to
closing)
D. Residential (ii) 15 days
7. B. (2) 3 days (Home Buyer to initial Seller Disclosure on behalf of the Trust)
H. $475 (If the home warranty is not transferable, insure the warranty gets issued in the
Home
Buyers name not the Trust. )
9. 45 days
11.Special Provisions Lender may require that Title be vested in the personal name of a
Beneficiary or Trustee of the Trust. In such case, Seller agrees to facilitate executing a new
contract in the personal name of the Trustee or Beneficiary.
12.Seller Contribution Ask for 2% of sales price as a seller contribution unless it
jeopardizes the deal
21.Notices (Use WSers physical address and email address)
22.Third Party Financing Condition Addendum
23.Option Fee $100 10 day option period Option fee will be applied toward purchase
Third Party Financing Addendum A. Conven. Loan 30 yrs 8% 6.B.1. 21 days
Collect the earnest money from the Home Buyer payable to the WS or WSers Entity & give it to the
WS.
For signing, email offer to the WS (Prefer Docu-sign docs)
Sellers Disclosure Statement - Go over it with Home Buyer and have them initial it on behalf of the
Trust
WS will email executed contract with a preapproval letter for the Trust along with a copy of an earnest
money check
Collect the Option Fee from Home Buyer payable to the Seller and give it to the Seller
Coordinate inspection of home including payment from home buyer ASAP
When the inspection report comes in use it to negotiate a better price and terms if possible
Rewrite a new contract in the Investors name WS provides & restart the closing date with a full
45 day close if possible.Do not use an amendment to contract. Lenders dont like assignments of
contract.

RC System
Realtor Instructions

DELETE the statements in the SPECIAL


PROVISIONS SECTION as they no longer apply.
FYI Closing #2 Includes all docs, a note, recorded Warranty Deed and Deed of Trust; escrow fees,
everything for exactly $611 plus a set up fee to August REI for $50. The 2 nd closing occurs within 7
days of the investor closing.
*Provide information to the listing agent on a need to know basis. If a seller knows an investor is
buying the property to resell for profit they may raise their price even though you are paying full
appraisal.

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TheReverseClose.com | Updated 8/19/16